Rookie uneasy about a tenant

Rookie uneasy about a tenant

Member since 2020 · 5 posts · 1 vote

Hello I am a relatively new Investor and am uneasy about a potential tenant. Would some of the more experienced landlords please give me some input? (Be gentle) I have an A+ SFH a week away from completion in an A+ neighborhood and I'm asking top of market rent. A friend of mine (retired mailman) met a drinking buddy at the Moose Lodge. Guy just moved here as a carpenter for work and is looking for a rental home. He connected the dots. Guy is ready to move in on completion, full ask, full deposit, no pets, no smokers. The house is in an A+ neighborhood and the best schools in the area. I have had the house listed for about 2 weeks without many hard bites. I believe this is due to COVID shutting down school many families are not aggressively looking to get into this area. So this seems like a great deal until...

Guy submits his application and I see 5 arrest records. All minor traffic incidents many years ago (No insurance, failure to register vehicle, failure to wear seatbelt, driving without a license etc.) but solid income and no prior evictions we could see. Then I then look this guy up on Facebook and see all kinds of "F This, F that", angry political rants against BLM, middle finger selfies etc. 

Am I letting my beliefs and moral compass keep me from lording over this land well or are these easy red flags? I mean if he wasn't the sharpest tool in the shed he wouldn't be a renter right? Am I crazy for holding out for lotto winning nuns and peace corp trust fund doctors as tenants? 

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Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
6y
Nope. The reason I check social media is to see if the applicant will be someone I'd want to do business with. Entitlement takes many forms and he just put his on full display. I'd turn him down.
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  • Lender · Los Angeles, CA · Member since 2017 · 916 posts · 647 votes
    6y

    @Kyle Barger Think of it this way. You are putting a person in your hard earned investment and as you have seen on the many posts here, a bad tenant is WAY costlier than a vacancy to find the right tenant. If I was renting to this guy based on what you said, I would be on the fence since he doesn't Blatantly violate any of my conditions to rent but ultimately, go with your gut. If you have dont want to rent to him and can prove you chose not to for legal reasons (short credit history, inconsistency of income, poor references) then you dont have to. I let a rental of mine sit for two months because all the potential tenants applying were terrible. I found great tenants eventually and have no issues since. Dont be afraid of a vacancy, it may save you money. 

  • Jon KellyPro Member
    Investor · Bethlehem, PA · Member since 2016 · 929 posts · 951 votes
    6y

    @Kyle Barger Mailman's drinking buddy from the Moose Lodge? What could possibly go wrong? 

    Seems like a "NO." Don't let money override your gut instincts. 

    Thinking potential tenants are not the "sharpest tools in the shed" is probably not the best approach if you're going to be a landlord. 

    Also, be careful what you type or say here and anywhere in the public domain. You don't want to get caught up in discriminating for political beliefs or any other reason. 

  • Member since 2020 · 5 posts · 1 vote
    6y

    I have read and thought about each response. Thank each of you for taking the time to do so. We have turned down the prospective tenant and connected him with another fellow landlord with Class C and D properties where it was a better fit. Win win for both.

    The advice that stood out was @Bjorn Ahlblad's classification of areas just like tenants. A Class A property should connect with a Class A type renter. I think this perspective will be helpful going forward. Also the many landlords saying go with your gut. Really felt the love with all the responses and attention. BP!

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